My wife and I want to build a house in Chiang Mai. We have identified a block of land  for sale directly opposite of the New Convention Centre that we like. We used to live in a condo on the same road, so we know the positives and negatives of the area. The block is 10M baht for (1200m2). Does anyone have the contact details for an independent land valuation expert to assess for us whether the asking price is reasonable value. I think it is reasonably priced but I don't want my personal preference to cloud reality if the land isn't actually worth the money.

 

Any tips on getting the value of the land independently assessed would be good.

 

thanks.

Seriously? 10m baht for 1200m2. Wow.

I don't follow CM, only Bangkok and Ko Samui properties...

 

Anyway I would say it is an absolute garbage rip off - you can buy cheaper or same price sea view plot in Chaweng on Ko Samui

 

CM should be 50+% less

Like said over priced (their dreamers here on land )

But there may be something else to consider - It may be permitted for commercial use (if there is such a thing )

I'm here in Korat & the lady across the rd was checking the value of a plot in the same Moo Baan with the bank only to find out it was worth less. 

The Developer was continously jacking up the price per square Twalang every year, even though the increase wasn't warranted 

OP .... 10M sounds way too high for 1200m2 , but i don't know the exact location.

To get an estimate of valuation can't you get that from the lands office ..... they know what land is worth in most villages in Thailand.

7 minutes ago, steven100 said:

OP .... 10M sounds way too high for 1200m2 , but i don't know the exact location.

To get an estimate of valuation can't you get that from the lands office ..... they know what land is worth in most villages in Thailand.

I'm thinking the land office has no clue what it's worth - only what someone paid for it.

34 minutes ago, bankruatsteve said:

I'm thinking the land office has no clue what it's worth - only what someone paid for it.

They should know what land nearby has been sold for ... that should give him an idea.

On 28 January 2018 at 8:51 AM, steven100 said:

OP .... 10M sounds way too high for 1200m2 , but i don't know the exact location.

To get an estimate of valuation can't you get that from the lands office ..... they know what land is worth in most villages in Thailand.

It's slap bang across the road from the new convention centre on Rural Rd. As I said, I lived about 200 m from the block of land a few years ago and like the area. However I was renting a condo and have no idea what land values are worth. I will get my FIL to check it out.

On 1/28/2018 at 10:00 AM, bankruatsteve said:

I'm thinking the land office has no clue what it's worth - only what someone paid for it.

The Land Office will have a value. (I forget what they call it), but it is a value that they base their charge on (as well as the sale price)

 

On 28 January 2018 at 8:41 AM, BEVUP said:

Like said over priced (their dreamers here on land )

But there may be something else to consider - It may be permitted for commercial use (if there is such a thing )

I'm here in Korat & the lady across the rd was checking the value of a plot in the same Moo Baan with the bank only to find out it was worth less. 

The Developer was continously jacking up the price per square Twalang every year, even though the increase wasn't warranted 

I actually did think of Korat but my wife doesn't want to move there, she grew up on Korat. Her father buys and sells parcels of land there and he could probably find us a great deal. 

On 1/28/2018 at 10:35 AM, steven100 said:

They should know what land nearby has been sold for ... that should give him an idea.

Well no. What they do know is the price they were told it sold for! Often/always much lower than the real price as you pay tax on the reported sale price.